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  2. Share Prices
  3. FOGL.L Share Price
  4. FOGL.L Share News
  5. Broker tips: Vedanta Resources, Galliford Try, Oil stocks

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Broker tips: Vedanta Resources, Galliford Try, Oil stocks

Wed, 22nd Feb 2012 11:25

Credit Suisse believes that a major restructuring within the businesses of miner Vedanta Resources would be a "strong positive" and continues to see significant upside in the stock.Credit Suisse said that "if the reports are correct and a merger is successful it would not change group consolidated debt levels but we estimate would reduce debt levels at holdco by c.$2.4bn assuming the merger is structured as a sale of VED's 55% Sesa Goa stake to Sterlite."Be that as it may, the broker has maintained its neutral rating and 1,400p target price for the stock, saying that it remains "cautious in the near term due to high debt levels, margin squeeze in power aluminium and power and regulatory risks to the company's iron ore operations."Housebuilding and construction firm Galliford Try surged higher this morning on the back of its interim results, with the rise being helped by Panmure Gordon, which upped its price target for the firm from 581p to 590p."Interim results from Galliford Try are exceptionally strong and well ahead of expectations. The company has announced a significantly enhanced dividend including a stepped increase for 2012E and a commitment to grow dividends progressively going forward," said Panmure Gordon.As such, the broker has raised its 2012 and 2013 full-year estimates for earnings per share by 5% and 3%, respectively. With the stock remaining the "cheapest in the sector" and offering the highest dividend yield, the broker maintains its buy recommendation.Merchant Securities has highlighted potential for sector peers of Cove Energy after Royal Dutch Shell launched a bid for the AIM-listed oil and gas producer this morning.Amongst other things, Cove has a 8.5% stake in the Rovuma Offshore Area 1, Mozambique, operated by Anadarko. Merchant Securities analyst Brendan Long has said that the bid has a strong read-across for companies "that have discovered or are exploring for oil and gas resources that share a similar geological themes, often with higher equity stakes in the assets." Long highlights six companies - Rockhopper Exploration, Ophir Energy, Falklands Oil & Gas, Chariot Oil & Gas, Borders & Southern Petroleum and Tower Resources - all of which were rising strongly this morning. BC
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4 Jun 2014 15:29

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4 Jun 2014 14:46

UPDATE 2-Falkland oil explorers contract rig for 2015 drilling

(Adds statement from Ocean Rig UDW) LONDON, June 4 (Reuters) - Energy companies active in the Falkland Islands have leased a rig for their 2015 drilling programme, paving the way for oil and gas exploration to continue next year in the region contested by Britain and Argentina. London

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4 Jun 2014 09:05

Premier Oil Signs Rig Contract In Falklands, Reports Indonesia Results

LONDON (Alliance News) - Premier Oil PLC said Wednesday it has signed a rig contract and rig sharing agreement for its Falkland Islands exploration and appraisal campaign, for which it expects to commence in the second quarter of 2015. The rig has been contracted by Premier Oil for the Isob

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4 Jun 2014 07:25

UK MORNING BRIEFING: Tesco Reports Sales Decline Amid Price Cutting

LONDON (Alliance News) - UK shares have opened mostly lower, with small-caps slightly outperforming Wednesday ahead of the Queen's Speech and further European economic data.

Starting the trading day on a negative note, Tesco PLC reported a sharp drop in sales in the

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4 Jun 2014 06:29

Premier Oil secures rig contract for 2015 Falklands drilling

LONDON, June 4 (Reuters) - Oil explorer Premier Oil said it has contracted a rig for its exploration programme in the Falkland Islands where it will drill at least four wells starting in the second quarter of next year. The energy firm also discovered more gas at its Tuna Block offshore In

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30 Apr 2014 12:56

Falkland Oil & Gas Swings To Pretax Loss On Expenses

LONDON (Alliance News) - Falkland Oil & Gas Ltd Wednesday said it swung to a pretax loss in 2013 as increased expenses and a major foreign exchange gain in 2012 hit comparable figures in 2013. The oil and gas exploration company, said it swung to a pretax loss of USD4.0 million from a preta

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24 Feb 2014 12:57

Falkland Oil & Gas Completes Final 3D Seismic Survey Of Northern Licences

LONDON (Alliance News) - Falkland Oil & Gas Ltd Monday said a 3D seismic survey over the Cretaceous Hersilia Fan complex within the company's Northern Area Licences has been completed. The oil and gas exploration company, said a total of 5,747 square kilometres of full fold seismic data has

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31 Jan 2014 14:59

DIRECTOR DEALINGS: Falkland Oil and Gas Executives Acquire Shares

LONDON (Alliance News) - Falkland Oil and Gas Limited PLC Friday said Chief Executive Tim Bushell exercised options over 96,154 shares under the company share plan at an exercise price of 0.002 pence per share Wednesday. Following this transaction, Bushell holds 256,154 shares, which repres

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13 Dec 2013 15:43

Soco International Chairman adds 50,000 shares

Soco International's Non-Executive Chairman, Rui de Sousa, has acquired 50,000 shares in the international oil and gas exploration and production company. The shares were purchased at 384.97p each for a total spend of £192,485. In its interim management statement last month the group said it was

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28 Nov 2013 14:52

Falkland Oil & Gas Gets Government Approval For Desire Petroleum Joint Venture

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25 Nov 2013 08:48

Falkland Island Holdings Profit Rises As UK Sales Offset Island Operations

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8 Nov 2013 10:27

Falkland Oil and Gas Begins Third 3D Seismic Survey Of Northern Area Licences

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24 Oct 2013 16:03

Sports Direct's Ashley sells 16m shares, YouGov founder trades in 3.35m

Sports Direct's founder Mike Ashley has sold 16m shares in the retailer, representing a 2.7 per cent holding and netting the billionaire owner of Newcastle United 106m pounds. An announcement to the stock exchange revealed Ashley had sold the shares at a price of 662.5p, marking a 7.5% discount to

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24 Oct 2013 11:30

DIRECTOR DEALINGS: Falklands Oil and Gas Senior Executives Buy Shares

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